Twitter’s CEO Plans Layoffs This Week
After having recorded lowest rate of progress in the number of new users since its inception in 2013, Twitter is looking at re-structuring itself and work on new growth-oriented strategies. One of these involve firing a whole bunch of engineers from the company this week.
The new CEO and co-founder of Twitter, Jack Dorsey is laying off people throughout the company. New York times speculates that this decision can be put into action as early as 13th October to improve a “bloated” engineering team. Though multiple sources have mentioned these imminent layoffs, Twitter has refused to comment on it.
Over the last couple of months, the number of people appointed to Twitter and the new users to the social media platform has presented a skewed ratio, emphasising the need of a different modus operandi. This news comes in the wake of rumours suggesting that the expansion of San Francisco headquarters of the company are already being curbed and frozen in an attempt to cut costs.
In the past, Twitter has shied away from revealing the total number of its users, but that in no way means it’s not in the same league as platforms like Facebook and Instagram. At the same time, the company also has millions of ‘dark pool’ users -people who signed up for Twitter but now their accounts are inactive for various reasons.
Only time will tell if this new alleged strategy will help the social media website increase its influence in the virtual world.